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Marital Debt

Recent Posts in Marital Debt Category

  • Proper Use of Marital Funds During Divorce

    Going through a divorce is a time of uncertainty and instability. A big part of this is that divorce is one of the most financially unstable times for almost every couple. Dividing finances and making sure there are enough resources to cover to households can stretch many budgets to the limit. Although many people have some money put away in savings or investments, all money that was acquired ...
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  • Thieme v. Aucoin-Thieme - Distribution of Pre-Marital Assets

    At the end of every divorce, marital property must be divided. New Jersey is what is referred to as an “equitable distribution state,” which means that the judge will divide the marital property “equitably” between the parties. Equitable does not mean equal. The way the judge determines what is equitable is made according to a laundry list of factors. In general, any property that was acquired ...
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  • Who Pays the Bills During Divorce

    Divorce is a chaotic process, and this is especially true at the very beginning of the process. At the start, both parties’ emotions are raw and they are angry. To add to that, the parties are often still living together, have not divided any personal possessions, and still have all financial matters closely intertwined with each other. Understanding who pays what after a divorce is filed can help ...
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  • Prenuptial Basics

    At the beginning of a marriage, no one wants to think about it ending in divorce. Most couples prefer to focus on the positives of getting married and the future together. Some prospective spouses prefer to plan for the unfortunate possibility of divorce, and so will choose to hire an attorney to draft a prenuptial agreement. A prenuptial agreement is essentially a contact between potential ...
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  • Destruction of Property and Dissipation of Assets in Divorce

    In New Jersey, all marital property is subject to an equitable distribution by the court in the event of a divorce. “Equitable distribution” is a legal term, and the court will consider a large number of factors when deciding how much of the marital estate each party will receive, ranging from the debts of the parties to whether one spouse was traditionally a stay-at-home parent. Divorces will ...
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  • Bankruptcy and Divorce

    The reality of divorce is that one household will become two. Where there used to be adults sharing responsibilities, bills, and often incomes, now each spouse will have to figure out how to make ends meet with only one income. Sometimes one of the spouses has been out of the job market for a while and needs time to bring his or her earning potential up. In any case, divorce creates financial ...
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  • Alimony and Overspending - Ponzetto v. Barbetti

    In several New Jersey cases, it has been established that the goal of spousal support is to help the spouse receiving support the ability to continue to maintain a lifestyle that is reasonably comparable to the one the spouses had while they were married. However, in these economic times, it is not unusual for spouses to spend beyond their means, live on credit, and otherwise maintain a lifestyle ...
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  • DISPUTES IN DIVORCE - WHAT'S WORTH FIGHTING FOR

    In a divorce, people can sometimes get caught up in “winning” and start to fight over every issue. It can be easy to lose sight over what is really important during the turmoil, especially during a highly contested divorce. While some things are absolutely worth fighting for , it can sometimes be better to let go of others. First, any personal property that can be easily replaced may not be worth ...
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  • FINANCIAL DOCUMENTS AND DIVORCE

    Documents help provide us with a map of our lives and our marriage. Documents ranging from birth certificates to artwork to car titles all provide a timeline and a history. When getting a divorce, financial documents provide an essential insight into a couple’s income and property. Bank statements are indispensable to the divorce process. Bank statements not only reveal as to the balances of ...
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  • KEEPING SEPARATE PROPERTY SEPARATE AFTER MARRIAGE

    Joining two lives in marriage is an exciting time, and no one wants to think of what will happen if the couple divorces. It is important, though, to have an understanding both at the outset and throughout your marriage of separate and marital property and the importance of keeping the two unconnected. In New Jersey, upon divorce, marital property is subject to an equitable distribution by the ...
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  • WHAT HAPPENS IF MY EX-SPOUSE REFUSES TO SELL THE HOUSE?

    The entry of a final divorce decree means the end of a marriage. However, the provisions of a final decree often leave the two parties tied together in other ways, such as child custody, child support, alimony. How to handle the division of the marital residence is no exception. It is not uncommon for the trial judge to order the spouse who is still living in the house to put the house on the ...
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